Bonsucro is a global non-profit, multi-stakeholder initiative aimed at improving the sustainability of the sugarcane production. It is the first global metric standard for sugarcane. To make the process of selling and buying Bonsucro Certified products worldwide as easy and commercially successful as possible, Bonsucro desired to develop a Credit Trading System in addition to its Mass Balance approach.
NewForesight was first asked to develop the broader traceability strategy of Bonsucro. Next up was the design of the Credit Trading System in close contact with Bonsucro senior members throughout the sugarcane supply chain. In a working group setting, the technical details of the Credit Trading System were defined. The outcomes were translated into recommendations to Bonsucro’s Board of Directors and NewForesight was then asked to build the Central Database for the Credit Trading System, incorporating all technical rules and procedural requirements agreed upon.
In two assignments over the course of two years, NewForesight first designed Bonsucro’s system for credit trade in the context of a broader strategy. The credit trading system was further improved in line with members’ requests and then operationalized. Recently we delivered an updated traceability strategy of Bonsucro, defining the goals, purpose and use of segregation, mass balance and credit trade.
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A guide to Bonsucro
Bonsucro credit trading system